During the quarter, Torstar — publisher of the Toronto Star and other newspapers — had just under $116 million in revenue from all operating segments in three months ended March 31, down from nearly $129 million a year earlier.
The Ontario digital media tax credit, which has been discontinued, was designed to offset the cost of salaries paid by qualified media companies, which include Torstar.
Torstar chief financial officer Lorenzo DeMarchi told analysts that the company has submitted claims for an additional $39.6 million of the tax credits, and is awaiting further approvals from the Canada Revenue Agency.
The CRA is expected to complete its reviews for half of that amount later in 2019 and the balance in 2020, he said.
As for a new federal refundable tax credit, covering 25 per cent of salaries and wages paid to eligible newsroom employees of qualified news organizations, DeMarchi said Torstar is still assessing the potential benefit.
LMFAO!
Death To YOU, rag of lies and filth!
The Red Star is nothing more than a propaganda outlet for the Liberals and always has been
The have made a living out of sensationalizing stories with little to no facts and trying to put a leftist spin on all of their articles
Their writers are nothing more than ass kissing left wing hacks trying to get their share of our tax dollars Trudo gave out to compliant news sources
They deserve to cease to exist as they now have less credibility than The National Enquirer
They better learn how to code
Won’t hurt my feelings if they go the way of the dodo bird
I don’t think I have ever read an issue in my life.
Clearly, you are not alone.
No worries , Trudeauhomainie will shore up their accounts with all that extra money we used to spend on wrecking the climate.